Taxi Insurance

Total Cover

100% Claim Settlement

No

Documentation

Reasonable

Premium

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Total Cover

100% Claim Settlement

No

Documentation

Reasonable

Premium

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Client Testimonials​

Prakhar Srivastava
2 months ago
They guided me through the intricacies of various insurance options, ensuring I fully understood each policy's coverage and benefits. Their transparency and willingness to address all my concerns instilled a sense of trust and confidence in their services.
punitchibber chibber
2 weeks ago
Good service whenever we call to them they give positive response i have a claim they support and my claim got settled
Agam Kansal
2 weeks ago
Brilliant place for all types of insurance. Always connected with every claim settlement.. Hassle free.. Kudos to beemawala..
rahul goyal
6 months ago
Beemawala and team is a best Company for take any type of insurance. They support and take care of your claim . Thanks a lot for your support of my claims many times .
Devyani Kharbanda
2 years ago
Shantanu is professional and very prompt in responding to my questions. I’m a repeated client and he’s been supportive throughout. I highly recommend his services. I wish him and his team good luck for future.

What is  Taxi Insurance ?

Taxi Insurance Insurance provides coverage for vehicles against various risks, including accidental damage, theft, and third-party liabilities. It offers financial protection to Taxi owners in case of unfortunate incidents, helping them manage repair costs, legal expenses, and damages to third parties. Having Taxi Insurance is mandatory in India as per the Motor Vehicles Act, ensuring responsible driving and safeguarding both Vehicle owners and third parties from potential financial burdens.

Example Scenario: In the case of Rahul’s Taxi accident in Shimla, where his vehicle was washed away in a flood, his Comprehensive Taxi Insurance policy proved to be immensely helpful. The incident was immediately reported to the insurance company, and a surveyor was assigned to assess the damage. As the policy covered damages from natural disasters, the insurance claim was accepted. The Taxi was towed to an authorized garage for repairs, and the insurance company settled the repair bills directly, relieving Rahul from financial burden. The incident highlighted the significance of having a reliable Taxi insurance policy to protect against unforeseen events and ensure peace of mind for Indian Taxi owners.

Coverages of Taxi Insurance

Own Damage Coverage

Protection against damages to your vehicle due to accidents, fire, theft, vandalism, or natural calamities.

Third-Party Liability Coverage

Covers legal liabilities for bodily injuries or property damage caused to third parties in an accident involving your Vehicle.

Personal Accident Cover

Compensation for injuries or death to the owner/driver of the insured Vehicle.

Passenger Cover

Coverage for passengers travelling in the insured Vehicle against bodily injuries or death.

Roadside Assistance

Assistance for breakdowns, towing, flat tire, battery jumpstart, and other emergency services.

Engine Protection

Coverage for damages to the Vehicle’s engine and its components.

Zero Depreciation Cover

Full reimbursement of repair/replacement costs without considering depreciation.

Consumables Cover

Covers the cost of consumables like nuts, bolts, engine oil, etc., during repairs.

Key Replacement Cover

Key Replacement Cover

Compensation for the cost of replacing lost or damaged Vehicle keys.

Additional Add-ons OF Coverages of Taxi Insurance

Zero Depreciation Cover

Provides full reimbursement for repair/replacement costs without considering depreciation.

Engine Protection

Covers damages to the vehicle engine and its components.

Consumables Cover

Covers the cost of consumables like nuts, bolts, engine oil, etc., during repairs.

Key Replacement Cover

Key Replacement Cover

Compensation for the cost of replacing lost or damaged Vehicle keys.

No Claim Bonus (NCB) Protection

No Claim Bonus (NCB) Protection

Allows retention of NCB even after making a claim.

Roadside Assistance

Assistance for breakdowns, towing, flat tire, battery jumpstart, and other emergency services.

Factors Determining the Premium of Coverages of Taxi Insurance

Vehicle Make and Model

The brand, model, and variant of the Vehicle play a significant role in premium calculation. Expensive or high-end Vehicles may attract higher premiums.

Vehicle's Age

Since this policy is designed for brand-new Vehicles, the age of the vehicle is a crucial factor in premium calculation. Newer Vehicles usually have lower premiums.

Insured Declared Value (IDV)

The IDV represents the Vehicle’s current market value and is a major factor in premium calculation. Higher IDV results in a higher premium.

RTO Number / State

RTO Number / State

The location where the Vehicle is registered (RTO number or state) affects the premium. Metropolitan cities or certain states may have higher premiums due to increased risks.

Sitting Capacity

The Taxi Third party premium is calculated on the basis on vehicle Sitting capacity.

Fuel Type (CNG / Diesel / Petrol / Electric)

Fuel Type (CNG / Diesel / Petrol / Electric)

The type of fuel used in the new Vehicle affects the premium, with CNG and diesel-powered Vehicles potentially having different premium rates compared to petrol or electric Vehicles.

Previous Claims History

 A history of past claims may affect the premium amount.

NCB Transfer Benefit

Policy Add-ons

The choice of add-ons, like zero depreciation cover or engine protection, will impact the total premium cost.

No Claim Bonus (NCB)

NCB earned for every claim-free year can significantly reduce the premium amount.

Deductibles and Excesses

Voluntary Deductibles

Opting for a higher voluntary deductible amount can reduce the premium.

Major Differences Between Own Damage (OD) Cover and Third-Party Liability Cover In TAXI Insurance

Coverage Own Damage (OD) Cover Third-Party Liability Cover
Definition
Provides coverage for damages to your vehicle due to accidents, theft, natural calamities, fire, and more.
Covers legal liabilities for damages caused to third-party property, injuries, or death due to your Vehicle's involvement in an accident.
Scope of Coverage
Protects your own vehicle against a wide range of perils and damages.
Only covers damages and injuries caused to third parties, not your vehicle.
Premium Determination
Based on factors like Vehicle's make, model, IDV, and add-ons chosen.
Regulated by the Insurance Regulatory and Development Authority of India (IRDAI). Premium rates are predefined based on the Vehicle's engine capacity.
Coverage Extent
Comprehensive coverage for your vehicle, including theft, own damage, and accidents.
Limited to liabilities arising from third-party property damage, injuries, or death.
Add-ons
Various add-ons like zero depreciation, engine protection, roadside assistance, etc., can be availed to enhance coverage.
No add-ons are available, as it is a standardized cover as per IRDAI regulations.
Legal Compliance
Optional, but highly recommended for complete protection of your vehicle.
Mandatory by law to drive a vehicle on Indian roads.
Claim Settlement
Applicable for damages to your vehicle, subject to policy terms and conditions.
Covers financial liabilities towards third parties up to the prescribed limits.
Insurance Premium
Can significantly impact the premium amount based on the extent of coverage and chosen add-ons.
Premium rates are fixed as per the IRDAI guidelines and are based on the Vehicle's engine capacity.

How to Settle TAXI Insurance Policy Claims?

Notification

Inform the Insure

Notify your insurance company about the accident and damages as soon as possible. Provide all necessary details, such as the policy number, date and time of the incident, location, and a brief description of the accident.

Police Report/FIR

File an FIR

(If applicable), If there is significant damage or third-party involvement, file a First Information Report (FIR) at the nearest police station. This is especially important for theft or major accidents.

Survey and Assessment

The insurance company will appoint a surveyor to assess the extent of damage to your vehicle. Cooperate with the surveyor and provide all relevant documents and evidence related to the accident.

Submit Required Documents

Submit the duly filled claim form along with the required documents, such as a copy of the vehicle’s registration certificate (RC), a valid driving license, the FIR (if applicable), and any other documents requested by the insurer.

Repairs and Inspection

After the assessment, the insurer may arrange for an inspection of the damaged vehicle or direct you to an authorized garage for repairs. Some insurers may offer cashless facilities at network garages.

Claim Settlement

Once the repairs are completed, submit the bills and invoices to the insurance company for reimbursement or settlement as per the policy terms.

Claim Amount

The claim amount will depend on the extent of damage and the terms of your insurance policy, including the deductible and policy coverage.

Excess Payment

Pay the applicable excess or deductible amount as per the policy terms. The insurer will cover the remaining claim amount.
Any other Supporting Documents

Necessary Documentation

Keep copies of all documents related to the claim, including the settlement letter and payment receipt, for future reference.

How to Settle TAXI Insurance Policy Claims?

File an FIR (If applicable)

File a Police Report

Immediately report the theft to the nearest police station and obtain a First Information Report (FIR) or a Non-Cognizable Report (NCR) as required by the insurer.

Inform the Insurance Company

Contact your insurance company’s customer support or claims helpline as soon as possible and provide them with all the necessary details about the theft incident.

Submit Required Documents

The insurance company will request specific documents, such as the FIR/NCR copy, original policy documents, vehicle registration certificate (RC), claim form, and any other documents as required.

Cooperate with Investigation

The insurer may conduct an investigation to verify the theft incident. Cooperate fully and provide any additional information or documents they may require.

Claim Survey

An authorized surveyor appointed by the insurance company will assess the loss and damages to determine the claim amount.

Transfer Vehicle Ownership

In case the stolen vehicle is not recovered, transfer the ownership of the vehicle to the insurance company as per their requirements.

Claim Settlement

Once the surveyor’s report is received, and all necessary documentation is in place, the insurance company will process the claim settlement.

Claim Payout

If the claim is accepted, the insurance company will provide the claim payout amount as per the terms and conditions of the policy.

Exclusions of TAXI Insurance

Consequential Loss

Insurance may not cover losses resulting from a covered event, such as financial losses due to missed business opportunities.

Driving Under Influence

Accidents caused while driving under the influence of alcohol or drugs may be excluded from coverage.

Unauthorized Drivers

If an accident occurs while someone other than the authorized driver is driving the insured Vehicle, it may not be covered.

Racing or Adventure Activities

Damages occurring during racing, rallies, or adventure sports are typically excluded.

Intentional Damage

 Any damages caused intentionally by the insured or any other person will be excluded from coverage under Insurance policy.

Wear and Tear

Regular wear and tear of the vehicle or mechanical breakdowns are not covered.

Illegal Activities

Accidents caused while using the Vehicle for illegal purposes may be excluded.

Loss of Personal Belongings

Loss of personal belongings from the Vehicle may not be covered.

War or Terrorism

Damages due to war, war-like situations, or acts of terrorism are generally excluded.

Insured's PAN Card

Nuclear Damage

Any damages caused by nuclear activity are not covered.

Expired or Lapsed Policy

If the policy is expired or lapsed at the time of the incident, there will be no coverage.

Documents Required for Claim Settlement under Taxi Insurance

IN CASE OF THEFT CLAIM

File an FIR (If applicable)

First Information Report (FIR)

A copy of the FIR lodged with the police station reporting the theft of the vehicle.

KYC Documents

Duly Filled Claim Form

A completed claim form provided by the insurance company, containing all necessary details about the incident.

Policy Document

Policy Document

The original insurance policy document showing the coverage details.

Vehicle Registration Certificate (RC)

A copy of the vehicle’s RC to establish ownership and vehicle details.

Driving without License

Driving License

 A valid driving license of the insured to verify the authority to drive the vehicle.

Keys and Locks

All available sets of keys and locks of the stolen vehicle.

Previous Insurance Records

Previous Insurance Records

If applicable, documents related to any previous insurance claims or policies.

No Trace Report

 If the vehicle is not recovered, a No Trace Report from the police stating that the stolen vehicle could not be located.

NOC from Financier

NOC from Financier

In the case of a financed vehicle, a No Objection Certificate (NOC) from the financing institution.

Letter of Subrogation

If the claim is paid to the policyholder, the insured needs to provide a letter of subrogation allowing the insurance company to take legal action against the guilty party.

Documents Required for Claim Settlement under Taxi Insurance

ACCIDENTAL CLAIM

Accident Claim Form

A duly filled and signed claim form providing details of the accident, the extent of damages, and injuries (if any)

KYC Documents

Valid Know Your Customer (KYC) documents of the insured, such as Aadhar Vehicled, Passport, Voter ID, etc., for identification purposes.
Insured's PAN Card

Insured's PAN Card

A copy of the insured’s Permanent Account Number (PAN) Vehicled to verify tax-related information.
Insured's GST Certificate

Insured's GST Certificate

If applicable, a copy of the insured’s Goods and Services Tax (GST) certificate
Policy Document

Copy of the Insurance Policy

A copy of the valid and active insurance policy for the vehicle.
File an FIR (If applicable)

FIR/NCR Copy

All available sets of keys and locks of the stolen vehicle.
Driving without License

Driving License

A copy of the valid driving license of the driver involved in the accident.

Vehicle Registration Certificate (RC)

A copy of the vehicle’s RC, which includes details such as the registration number, engine number, chassis number, etc. 

Estimate of Repairs

Estimate of Repairs

An estimate of the repair costs from an authorized garage or workshop.
Photographs(if available)

Photographs

Clear photographs of the accident scene, damages to the vehicle, and the location.
Witness Statements

Witness Statements

Statements from any witnesses present at the time of the accident (if available).
Medical Records

Medical Records (if applicable)

Medical documents, bills, and reports in case of injuries to the insured or any third party.
Police Investigation Report (if applicable)

Police Investigation Report (if applicable)

In case of a serious accident, a police investigation report may be required.

Contact Information for Claim Settlement: related to Taxi Insurance Policy

If Policy Obtained through Agent/Broker

Contact your agent or broker first, as they will guide you through the claims process and assist in reporting the claim.

If Policy Obtained Directly from Insurance Company

Contact the insurance company’s claims department directly to report the claim and follow their instructions for a smooth claims settlement.

Claim Contact Information for Policy from Beemawala.com

If you have taken the policy from Beemawala.com, please use the following contact details to register your claim:
Kindly reach out to the provided contact information to initiate the claim settlement process with Beemawala.com.

Frequently Asked Questions: Taxi Insurance

The cost of Taxi Insurance varies based on factors like location, driver experience, coverage type, and more.
Taxi Insurance typically covers damages to your taxi, third-party liabilities, passengers, and other specific risks.
Taxi Insurance is a specialized policy that provides coverage for taxis and their unique risks, including passenger transport.
Taxi Insurance can be expensive due to the increased exposure to risks, including passenger safety and frequent road usage.
NCB is a discount on the premium offered to policyholders who do not make any claims during the policy period. It can accumulate over the years and lead to substantial savings.
The cost of Taxi Insurance in Ireland can vary based on factors such as location, vehicle type, and driver history.
Factors like driver experience, vehicle security, and comparison shopping can help in finding more affordable Taxi Insurance.
The cheapest Taxi Insurance varies based on your specific circumstances and needs. Comparing quotes from multiple insurers can help.
In case of an accident or damage to your Vehicle, you should inform your insurance company immediately and follow their claim process, which may involve submitting necessary documents and evidence.
Yes, you can transfer the Vehicle insurance policy to the new owner of the Vehicle. The new owner will need to apply for a transfer of ownership and insurance with the insurance company.
Yes, most insurance companies offer online renewal facilities. You can renew your Vehicle insurance policy online through the insurer’s website or a trusted insurance portal.
The insurance premium for a four-wheeler is calculated based on factors like the vehicle’s Insured Declared Value (IDV), age, sitting capacity , make, model, location, and add-ons chosen. Insurance providers provide online calculators to estimate the premium.
IDV stands for Insured Declared Value, which is the current market value of the vehicle. It is the maximum amount the insurance company will pay in case of theft or total loss of the vehicle.
To change the name in four-wheeler insurance, submit a request to the insurance company along with the required documents, such as proof of name change, ID proof, and policy details.
In case of an accident or damage, inform the insurance company immediately and file a claim. Provide all necessary documents and follow the claim process as per the insurer’s guidelines.
To change the name in four-wheeler insurance, submit a request to the insurance company along with the required documents, such as proof of name change, ID proof, and policy details.
In case of an accident or damage, inform the insurance company immediately and file a claim. Provide all necessary documents and follow the claim process as per the insurer’s guidelines.
You can upgrade your existing third-party insurance to a comprehensive policy by contacting your insurance provider. Pay the additional premium and get the necessary endorsement.
When buying a new four-wheeler, it is essential to have at least Third-Party Liability Insurance as mandated by law. Comprehensive insurance, which includes OD and TP cover, is recommended for complete protection.
Third-Party Liability Insurance is compulsory for all four-wheelers as per the Motor Vehicles Act. It covers liabilities for third-party injury or property damage caused by the insured vehicle.
Four Wheeler Insurance provides financial protection to your vehicle against various risks, including accidents, theft, natural calamities, and third-party liabilities.

You can purchase Four Wheeler Insurance online through various insurance providers’ websites or online marketplaces like Beemawala.com , coverfox or Policybazaar.

Zero Depreciation Cover ensures full claim settlement without factoring in the depreciation of Vehicle parts during repairs.
You can check the status of your Four Wheeler Insurance policy online through the insurer’s website using your policy number or other required details.
Yes, you can transfer your old Taxi NCB Insurance to another vehicle when you sell your existing Vehicle and buy a new one.
Some common add-ons include Engine Protect, Tyre Cover, Roadside Assistance, Consumables Cover, IMT COVER etc., which offer additional protection.
Zero Depreciation Cover ensures full claim settlement without factoring in the depreciation of car parts during repairs.
Comprehensive Four Wheeler Insurance provides coverage for both Own Damage (OD) and Third-Party Liabilities, offering more extensive protection.
You can check the status of your Four Wheeler Insurance policy online through the insurer’s website using your policy number or other required details.
Yes, you can transfer your Four Wheeler Insurance to another vehicle when you sell your existing car and buy a new one.
Some common add-ons include Engine Protect, Tyre Cover, Roadside Assistance, Consumables Cover, etc., which offer additional protection.
In case of an accident, immediately inform the insurance company, file an FIR with the police, if necessary, and follow the claim process as per the insurer’s guidelines. Provide all required documents for claim settlement.
Add-on coverages are optional enhancements that can be added to your car insurance policy for additional protection and benefits beyond the standard coverage.
Zero Depreciation cover ensures that you receive the full claim amount for replacing parts of your car without considering depreciation. It is especially helpful for newer cars as it saves you from bearing depreciation costs during claims.
Yes, Engine Protection cover provides coverage for damages caused to the engine due to a hydrostatic lock, which occurs when the engine is damaged by ingesting water.
Roadside Assistance cover provides emergency services like towing, flat tire replacement, battery jumpstart, and more in case of breakdowns or accidents, making it highly beneficial in times of distress.
Yes, some car insurance add-ons provide coverage for consumables like engine oil and coolant, ensuring a comprehensive claim settlement.
NCB Protection cover helps you retain your No Claim Bonus (NCB) even after making a claim. It ensures that your hard-earned NCB discount is not affected due to a single claim during the policy period.
No, Personal Belongings cover is usually not included in standard car insurance. However, you can opt for this add-on to receive coverage for your personal belongings kept inside the insured car.
Yes, Key Replacement cover offers coverage for the cost of replacing lost or stolen car keys, including key fob and locksmith charges.
Invoice Protection cover is typically available for new cars up to a certain age (usually up to 2 or 3 years). However, check with your insurance provider for any specific eligibility criteria.
No, Consumable Expenses cover is primarily for consumables like nuts, bolts, washers, and similar items. It does not cover expensive safety equipment like airbags.
You can usually purchase add-on covers both at the time of policy purchase and during the policy term, provided your car insurance policy is active.
No, add-on coverages are typically available only for comprehensive car insurance policies, as third-party policies offer limited coverage as mandated by law.

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